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EU blocks Hutchison deal to buy Telefonica's O2 UK

Commission said allowing acquisition would have led to higher British mobile prices

Published Wed, May 11, 2016 · 09:50 PM
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Brussels

THE European Union's competition regulator blocked on Wednesday CK Hutchison Holdings' plan to become Britain's biggest mobile telecoms network operator in a decision which also cast doubts on whether it can win approval for another deal in Italy.

The European Commission said allowing Hutchison's £10.3 billion (S$20.4 billion) acquisition of O2 UK from Spain's Telefonica would have led to higher British mobile prices.

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